Ashok Leyland to have JV with Alteams
MUMBAI: Ashok Leyland, India's second-biggest maker of buses and trucks, has formed a joint venture with Finland's Alteams to make components for the telecoms and automotive sectors.
The 50:50 venture, subject to regulatory approval, will start with an initial investment of more than $43 million, the company said. It will make high-pressure die casting aluminium products, and "reflects the expansion of Ashok leyland's presence in auto components to take advantage of rapidly growing opportunities both in India and abroad," Managing Director R. Seshasayee said.
« Back
|